TORONTO and GLIL YAM, Israel,
Jan. 17,
2025 /PRNewswire/ -- IM Cannabis Corp.
("IMC" or the "Company") (NASDAQ: IMCC) (CSE: IMCC),
a leading medical cannabis company with operations in Israel and Germany, announces that it has changed its
auditor from Kost Forer Gabbay &
Kasierer, a member of Ernst & Young Global (the "Predecessor
Auditor") to Fahn Kanne &
Co. Grant Thornton Israel (the
"Successor Auditor") effective January 16, 2025. The Predecessor Auditor
resigned effective January 16, 2025,
at the Company's request, and the Company's board of directors,
upon the audit committee's recommendation, appointed the Successor
Auditor to fill the resulting vacancy until the close of the next
annual meeting of the Company's shareholders.
The change of auditor notice required pursuant to National
Instrument 51-102 – Continuous Disclosure Obligations
("NI 51-102") and associated material have been filed on
SEDAR+ (www.sedarplus.ca) under the Company's profile within the
prescribed time period. There were no reservations or modified
opinions in any auditor's reports nor any reportable events as
defined in NI 51-102 in connection with the audits by the
Predecessor Auditor of the Company's most recently completed
financial year or any subsequent period.
About IM Cannabis Corp.
IMC (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis
company that provides premium cannabis products to medical patients
in Israel and Germany, two of the largest medical cannabis
markets. The Company has focused its resources to achieve
sustainable and profitable growth in its highest value markets,
Israel and Germany. The Company
leverages a transnational ecosystem powered by a unique data-driven
approach and a globally sourced product supply chain. With an
unwavering commitment to responsible growth and compliance with the
strictest regulatory environments, the Company strives to amplify
its commercial and brand power to become a global high-quality
cannabis player.
The IMC ecosystem operates in Israel through its subsidiaries, which imports
and distributes cannabis to medical patients, leveraging years of
proprietary data and patient insights. The Company also operates
medical cannabis retail pharmacies, online platforms, distribution
centers, and logistical hubs in Israel that enable the safe delivery and
quality control of IMC products throughout the entire value chain.
In Germany, the IMC ecosystem
operates through Adjupharm GmbH, where it distributes cannabis to
pharmacies for medical cannabis patients.
Disclaimer for Forward-Looking Statements
This press release contains forward-looking information or
forward-looking statements under applicable Canadian and
United States securities laws
(collectively, "forward-looking statements"). All
information that addresses activities or developments that we
expect to occur in the future are forward-looking statements.
Forward-looking statements are often, but not always, identified by
the use of words such as "seek", "anticipate", "believe", "plan",
"estimate", "expect", "likely" and "intend" and statements that an
event or result "may", "will", "should", "could" or "might" occur
or be achieved and other similar expressions. Forward-looking
statements are based on the estimates and opinions of management on
the date the statements are made. In the press release, such
forward-looking statements include, but are not limited to,
statements relating to: the Company's commitment to driving growth
in the German market while focusing on sustainable
profitability.
The above lists of forward-looking statements and assumptions
are not exhaustive. Since forward-looking statements address future
events and conditions, by their very nature they involve inherent
risks and uncertainties. Actual results may differ materially from
those currently anticipated or implied by such forward-looking
statements due to a number of factors and risks. These
include: the failure of the Company to comply with applicable
regulatory requirements in a highly regulated industry; unexpected
changes in governmental policies and regulations in the
jurisdictions in which the Company operates; the Company's ability
to continue to meet the listing requirements of the Canadian
Securities Exchange and the NASDAQ Capital Market; any unexpected
failure to maintain in good standing or renew its licenses; the
ability of the Company and its subsidiaries (collectively, the
"Group") to deliver on their sales commitments or growth
objectives; the reliance of the Group on third-party supply
agreements to provide sufficient quantities of medical cannabis to
fulfil the Group's obligations; the Group's possible exposure to
liability, the perceived level of risk related thereto, and the
anticipated results of any litigation or other similar disputes or
legal proceedings involving the Group; the impact of increasing
competition; any lack of merger and acquisition opportunities;
adverse market conditions; the inherent uncertainty of production
quantities, qualities and cost estimates and the potential for
unexpected costs and expenses; risks of product liability and other
safety-related liability from the usage of the Group's cannabis
products; supply chain constraints; reliance on key personnel; the
risk of defaulting on existing debt; risks surrounding war,
conflict and civil unrest in Eastern
Europe and the Middle East,
including the impact of the Israel-Hamas war on the Company, its
operations and the medical cannabis industry in Israel; risks associated with the Company
focusing on the Israel and Germany
markets; the inability of the Company to achieve sustainable
profitability and/or increase shareholder value; the inability of
the Company to actively manage costs and/or improve margins; the
inability of the company to grow and/or maintain sales; the
inability of the Company to meet its goals and/or strategic plans;
the inability of the Company to reduce costs and/or maintain
revenues; the Company's inability to take advantage of the
legalization of medicinal cannabis in Germany.
Please see the other risks, uncertainties and factors set out
under the heading "Risk Factors" in the Company's annual report
dated March 28, 2024, which is
available on the Company's issuer profile on SEDAR+
at www.sedarplus.ca and Edgar at www.sec.gov/edgar.
Any forward-looking statement included in this press release is
made as of the date of this press release and is based on the
beliefs, estimates, expectations and opinions of management on the
date such forward looking information is made. The Company does not
undertake any obligation to update forward-looking statements
except as required by applicable securities laws. Investors should
not place undue reliance on forward-looking statements.
Forward-looking statements contained in this press release are
expressly qualified by this cautionary statement.
Logo -
https://mma.prnewswire.com/media/1742228/IM_Cannabis_Logo.jpg
Company Contact:
Anna
Taranko, Director Investor & Public Relations
IM Cannabis Corp.
+49 157 80554338
a.taranko@imcannabis.de
Oren Shuster, CEO
IM Cannabis Corp.
info@imcannabis.com
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SOURCE IM Cannabis Corp.
